Loan Definitions

Mortgage Lending Rule Changes: Is Predatory Lending Illegal? Home Loans (2013) Residential mortgage loan activity (rmla) – field definitions for RMLA Section I of. NMLS Mortgage Call Report: Definitions and Instructions.

A limit on the total amount of subsidized and/or unsubsidized loans that you may borrow for undergraduate and graduate study. If the total loan amount you receive over the course of your education reaches the aggregate loan limit, you’re not eligible to receive additional loans.

A leveraged loan is a type of loan that is extended to companies or individuals that already have considerable amounts of debt and/or a poor credit history. Lenders consider leveraged loans to carry a.

A loan provision giving the lender the power to declare all sums owing lender immediately due and payable upon the violation of a specific loan provision, such as the sale of the property, or the failure to make loan payments on time. Example: John sells his property to Mary who takes over John’s mortgage payments.

Payday loans, included in the consumer loan definition, can see interest rates over 500 percent in some states. "Today’s loan sharks wear expensive suits and work on Wall Street, where they make.

Loan Estimate Explainer. A Loan Estimate tells you important details about a mortgage loan you have requested. Use this tool to review your Loan Estimate to make sure it reflects what you discussed with the lender. If something looks different from what you expected, ask why.

A home improvement loan is (a) any dwelling-secured loan to be used, at least in part, for repairing, rehabilitating, remodeling, or improving a dwelling or the real property on which the dwelling is located, and (b) any non-dwelling-secured loan (i) that is to be used, at least in part, for one or more of those purposes and (ii) that is classified as a home improvement loan by the institution.

Interest Only Jumbo Loans The cost to borrow money expressed as a yearly percentage. For mortgage loans, excluding home equity lines of credit, it includes the interest rate plus other charges or fees. For home equity lines, the APR is just the interest rate.

Inspire definition, to fill with an animating, quickening, or exalting influence: His courage inspired his followers. See more.

A bullet loan is a loan that requires a balloon payment at the end of the term. Bullet loans are also commonly referred to as balloon loans. Bullet loans can be offered to all types of lending.

ˆ